Loading...
Definitive Analysis

Financial Statements

Company Industry Sector

Periods / Units / Analysis

Fundamentals

Margins Returns Growth Rates Metrics/Ratios

Valuations

Projections DCF DDM EPV Multiples Valuations

Miscellaneous

Indicators Charts WACC Beta Predictability

Ticker

Industry

Sector

Page: Industry Financials

USNA

Industry Analysis

Master Data Export

Industry Enterprise Value

Metric MRQ 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995
Stock Price 18.61 21.87 24.36 21.81 25.88 23.84 24.66 27.16 28.70 28.58 26.36 21.79 21.72 16.89 13.57 13.12 11.36 9.92 13.28 10.11 8.92 7.83 5.61 4.01 4.16 3.68 4.26 5.60 4.89 4.94 2.45
Market Capitalization 4,861.19M 5,468.83M 5,640.25M 5,724.41M 6,104.30M 5,816.75M 5,100.12M 4,746.53M 4,804.76M 3,873.61M 3,797.71M 3,521.20M 2,808.23M 2,092.89M 1,825.73M 1,822.27M 1,308.22M 979.84M 1,275.54M 1,118.64M 768.06M 605.50M 454.59M 369.48M 389.97M 337.69M 422.67M 440.67M 415.55M 415.26M 293.90M
(-) Cash & Equivalents 425.21M 495.41M 480.27M 482.30M 473.21M 472.71M 365.12M 321.27M 333.17M 332.01M 330.41M 250.65M 238.37M 224.26M 173.56M 179.30M 156.44M 94.90M 100.37M 78.00M 66.13M 40.92M 37.96M 37.17M 21.38M 22.04M 15.89M 14.14M 13.50M 13.28M 10.56M
(+) Total Debt 2,038.12M 1,964.96M 1,937.61M 1,951.58M 1,740.82M 1,570.46M 1,341.92M 1,214.55M 1,179.98M 1,075.09M 977.92M 777.48M 713.31M 577.89M 541.34M 499.34M 396.63M 371.47M 293.86M 238.43M 171.09M 129.98M 125.74M 130.48M 106.29M 95.98M 94.74M 85.39M 88.72M 88.32M 91.54M
Enterprise Value 7,098,453,706.42 7,013,398,553.07 7,539,269,135.74 7,024,812,998.51 7,550,849,988.00 7,376,830,832.72 6,260,651,185.17 5,622,374,336.24 5,466,431,476.17 4,653,003,026.38 4,517,595,971.93 3,814,991,040.36 3,147,524,858.85 2,497,905,059.88 2,245,346,814.68 2,219,993,411.37 1,819,036,770.44 1,386,205,481.61 1,595,749,104.26 1,342,892,823.57 955,541,152.01 700,523,938.60 555,776,331.48 503,227,370.82 518,760,506.43 432,430,578.26 536,511,343.61 616,375,261.11 551,343,805.55 612,041,177.77 606,919,844.07

Industry Income Statement

Metric TTM 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995
Revenue 6,445.79M 6,096.74M 6,066.55M 5,462.85M 4,952.83M 4,641.62M 4,510.17M 4,092.58M 3,965.23M 3,885.84M 3,455.69M 3,095.50M 2,957.23M 2,741.71M 2,586.44M 2,263.13M 2,085.43M 1,911.26M 1,593.31M 1,330.60M 1,114.17M 850.23M 642.63M 535.06M 428.18M 440.59M 455.99M 506.62M 480.65M 533.34M 553.24M
Cost of Revenue 4,615.07M 4,156.84M 4,289.86M 4,091.17M 3,607.58M 3,289.23M 3,203.38M 2,855.71M 2,711.98M 2,671.56M 2,414.15M 2,174.59M 2,116.78M 1,995.18M 1,874.26M 1,585.79M 1,469.61M 1,319.35M 1,088.13M 845.60M 685.93M 502.93M 384.11M 323.09M 243.95M 245.74M 240.71M 242.06M 203.44M 192.52M 112.16M
Gross Profit 1,830.72M 1,939.91M 1,776.69M 1,371.68M 1,345.25M 1,352.39M 1,306.79M 1,236.87M 1,253.25M 1,214.27M 1,041.54M 920.91M 840.45M 746.53M 712.17M 677.34M 615.81M 591.91M 505.18M 485.00M 428.25M 347.30M 258.52M 211.97M 184.23M 194.85M 215.28M 264.55M 277.21M 340.81M 441.08M
Gross Margin 28.4% 31.8% 29.3% 25.1% 27.2% 29.1% 29.0% 30.2% 31.6% 31.2% 30.1% 29.8% 28.4% 27.2% 27.5% 29.9% 29.5% 31.0% 31.7% 36.4% 38.4% 40.8% 40.2% 39.6% 43.0% 44.2% 47.2% 52.2% 57.7% 63.9% 79.7%
R&D Expenses 5.36M 9.74M 10.34M 9.32M 9.69M 10.05M 8.10M 8.13M 7.82M 6.98M 6.19M 5.03M 4.60M 2.78M 0.31M 0.31M 0.01M 0.00M 0.15M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.04M
SG&A Expenses 770.76M 752.78M 718.96M 659.55M 648.00M 618.10M 619.98M 630.16M 565.67M 534.81M 471.08M 437.88M 402.39M 312.73M 248.92M 248.92M 237.54M 182.14M 183.34M 147.22M 116.59M 70.84M 77.74M 52.63M 43.55M 48.97M 46.79M 53.68M 40.73M 38.77M 11.46M
Operating Expenses 776.12M 762.52M 729.30M 668.86M 657.69M 628.15M 628.08M 638.29M 573.49M 541.80M 477.27M 442.91M 406.99M 315.50M 249.23M 249.24M 237.55M 182.14M 183.49M 147.22M 116.59M 70.84M 77.74M 52.63M 43.55M 48.97M 46.79M 53.68M 40.73M 38.77M 11.51M
Operating Income 1,054.60M 1,177.39M 1,047.39M 702.81M 687.55M 724.24M 678.71M 598.58M 679.76M 672.48M 564.27M 478.01M 433.47M 431.02M 462.94M 428.10M 378.26M 409.77M 321.69M 337.78M 311.65M 276.46M 180.78M 159.34M 140.68M 145.88M 168.49M 210.88M 236.48M 302.04M 429.57M
Operating Margin 16.4% 19.3% 17.3% 12.9% 13.9% 15.6% 15.0% 14.6% 17.1% 17.3% 16.3% 15.4% 14.7% 15.7% 17.9% 18.9% 18.1% 21.4% 20.2% 25.4% 28.0% 32.5% 28.1% 29.8% 32.9% 33.1% 37.0% 41.6% 49.2% 56.6% 77.6%
Interest Income 21.23M 26.85M 21.57M 16.05M 10.10M 11.26M 12.77M 9.28M 6.59M 5.93M 5.21M 6.22M 6.16M 5.54M 6.20M 4.96M 4.70M 4.31M 3.86M 1.84M 1.45M 0.67M 0.29M 0.11M 0.13M 0.10M 0.00M 0.00M 0.00M 0.00M 0.00M
Interest Expense 102.15M 104.04M 91.32M 69.47M 59.04M 55.59M 55.33M 60.12M 47.49M 42.30M 33.14M 33.11M 29.75M 27.19M 24.93M 24.56M 25.21M 27.06M 16.03M 10.50M 7.77M 5.52M 5.03M 3.82M 2.08M 1.90M 0.75M 0.93M 1.81M 2.00M 1.48M
Net Interest Income -80.92M -77.19M -69.75M -53.41M -48.94M -44.33M -42.56M -50.83M -40.91M -36.37M -27.94M -26.88M -23.59M -21.66M -18.73M -19.60M -20.51M -22.74M -12.17M -8.66M -6.32M -4.85M -4.75M -3.71M -1.94M -1.80M -0.75M -0.93M -1.81M -2.00M -1.48M
Other Income / Expense -552.52M -652.98M -594.69M -242.23M -212.77M -324.85M -332.07M -285.81M -343.94M -412.67M -301.13M -243.49M -226.48M -242.05M -290.09M -259.72M -252.73M -311.85M -222.98M -255.01M -241.88M -216.04M -136.84M -122.28M -117.64M -122.00M -132.70M -168.56M -197.47M -260.83M -405.81M
Pre-Tax Income 421.16M 447.21M 382.96M 407.17M 425.85M 355.06M 304.09M 261.93M 294.91M 223.44M 235.20M 207.63M 183.40M 167.32M 154.12M 148.79M 105.01M 75.18M 86.54M 74.11M 63.45M 55.56M 39.20M 33.34M 21.09M 22.08M 35.04M 41.39M 37.20M 39.21M 22.28M
Pre-Tax Margin 6.5% 7.3% 6.3% 7.5% 8.6% 7.6% 6.7% 6.4% 7.4% 5.8% 6.8% 6.7% 6.2% 6.1% 6.0% 6.6% 5.0% 3.9% 5.4% 5.6% 5.7% 6.5% 6.1% 6.2% 4.9% 5.0% 7.7% 8.2% 7.7% 7.4% 4.0%
Income Tax Expense 95.11M 101.65M 90.48M 91.31M 94.14M 78.30M 73.36M 56.37M 58.80M 61.47M 62.84M 57.85M 47.77M 45.78M 39.38M 38.03M 29.57M 24.42M 25.49M 19.66M 19.98M 13.91M 10.40M 7.43M 6.76M 7.03M 10.43M 9.90M 7.72M 13.06M 6.66M
Tax Rate 22.6% 22.7% 23.6% 22.4% 22.1% 22.1% 24.1% 21.5% 19.9% 27.5% 26.7% 27.9% 26.0% 27.4% 25.6% 25.6% 28.2% 32.5% 29.5% 26.5% 31.5% 25.0% 26.5% 22.3% 32.1% 31.8% 29.8% 23.9% 20.7% 33.3% 29.9%
Net Income 326.05M 345.57M 292.48M 315.86M 331.71M 276.76M 230.73M 205.56M 236.11M 161.97M 172.36M 149.78M 135.63M 121.53M 114.74M 110.77M 75.44M 50.76M 61.05M 54.45M 43.47M 41.65M 28.80M 25.91M 14.33M 15.05M 24.61M 31.49M 29.48M 26.15M 15.63M
Net Margin 5.1% 5.7% 4.8% 5.8% 6.7% 6.0% 5.1% 5.0% 6.0% 4.2% 5.0% 4.8% 4.6% 4.4% 4.4% 4.9% 3.6% 2.7% 3.8% 4.1% 3.9% 4.9% 4.5% 4.8% 3.3% 3.4% 5.4% 6.2% 6.1% 4.9% 2.8%
EBIT 1,054.60M 1,177.39M 1,047.39M 702.81M 687.55M 724.24M 678.71M 598.58M 679.76M 672.48M 564.27M 478.01M 433.47M 431.02M 462.94M 428.10M 378.26M 409.77M 321.69M 337.78M 311.65M 276.46M 180.78M 159.34M 140.68M 145.88M 168.49M 210.88M 236.48M 302.04M 429.57M
Depreciation & Amortization 216.08M 225.07M 213.26M 204.60M 184.29M 180.38M 166.80M 142.43M 134.29M 129.45M 109.51M 86.13M 78.52M 72.15M 69.28M 67.47M 61.12M 53.13M 47.60M 40.46M 32.04M 27.73M 23.98M 21.09M 18.18M 18.52M 13.19M 17.91M 13.29M 12.69M 10.42M
EBITDA 1,270.68M 1,402.46M 1,260.66M 907.41M 871.85M 904.62M 845.51M 741.01M 814.05M 801.92M 673.78M 564.14M 511.98M 503.17M 532.23M 495.58M 439.37M 462.89M 369.29M 378.24M 343.69M 304.19M 204.76M 180.43M 158.85M 164.41M 181.68M 228.79M 249.77M 314.73M 439.99M
EBITDA Margin 19.7% 23.0% 20.8% 16.6% 17.6% 19.5% 18.7% 18.1% 20.5% 20.6% 19.5% 18.2% 17.3% 18.4% 20.6% 21.9% 21.1% 24.2% 23.2% 28.4% 30.8% 35.8% 31.9% 33.7% 37.1% 37.3% 39.8% 45.2% 52.0% 59.0% 79.5%
NOPAT 816.43M 909.78M 799.93M 545.20M 535.57M 564.51M 514.98M 469.75M 544.23M 487.48M 413.50M 344.81M 320.56M 313.08M 344.65M 318.70M 271.75M 276.68M 226.95M 248.16M 213.50M 207.23M 132.82M 123.82M 95.57M 99.42M 118.35M 160.43M 187.43M 201.44M 301.25M
NOPAT Margin 12.7% 14.9% 13.2% 10.0% 10.8% 12.2% 11.4% 11.5% 13.7% 12.5% 12.0% 11.1% 10.8% 11.4% 13.3% 14.1% 13.0% 14.5% 14.2% 18.7% 19.2% 24.4% 20.7% 23.1% 22.3% 22.6% 26.0% 31.7% 39.0% 37.8% 54.5%
Owner's Earnings 542.12M 570.63M 505.74M 520.46M 516.01M 457.14M 397.53M 347.99M 370.40M 291.42M 281.87M 235.91M 214.14M 193.68M 184.02M 178.24M 136.56M 103.89M 108.65M 94.90M 75.50M 69.38M 52.78M 47.01M 32.50M 33.57M 37.80M 49.40M 42.78M 38.84M 26.04M
Owner's Earnings Margin 8.4% 9.4% 8.3% 9.5% 10.4% 9.8% 8.8% 8.5% 9.3% 7.5% 8.2% 7.6% 7.2% 7.1% 7.1% 7.9% 6.5% 5.4% 6.8% 7.1% 6.8% 8.2% 8.2% 8.8% 7.6% 7.6% 8.3% 9.8% 8.9% 7.3% 4.7%
EPS 0.44 0.43 0.39 0.39 0.39 0.31 0.26 0.24 0.35 0.25 0.31 0.24 0.26 0.22 0.21 0.21 0.17 0.13 0.16 0.14 0.12 0.11 0.07 0.08 0.04 0.04 0.07 0.12 0.11 0.11 0.05
EPS (Diluted) 0.44 0.43 0.39 0.39 0.39 0.31 0.26 0.24 0.35 0.25 0.31 0.24 0.26 0.22 0.21 0.21 0.17 0.13 0.16 0.14 0.12 0.11 0.07 0.08 0.04 0.04 0.07 0.12 0.11 0.11 0.05
Shares (Diluted) 735.05M 799.95M 751.51M 817.92M 856.40M 880.62M 901.82M 865.11M 679.88M 661.00M 559.99M 628.86M 527.32M 549.20M 554.80M 524.01M 439.19M 383.82M 375.46M 399.40M 361.00M 364.93M 384.11M 328.65M 318.95M 370.83M 360.19M 257.88M 261.20M 248.85M 314.89M

Industry Balance Sheet

Metric MRQ 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995
Cash & Cash Equivalents 401.07M 499.46M 480.27M 486.30M 471.68M 472.71M 365.12M 321.27M 333.17M 332.01M 330.41M 250.65M 244.24M 227.70M 173.56M 180.63M 157.67M 94.90M 100.37M 78.00M 66.13M 41.84M 37.96M 37.17M 21.63M 22.30M 16.52M 14.58M 14.01M 13.52M 10.86M
Short-Term Investments 73.62M 131.68M 112.02M 92.94M 99.01M 127.82M 95.58M 101.46M 72.12M 51.53M 56.30M 43.71M 50.41M 41.86M 52.73M 45.45M 18.66M 17.34M 12.64M 12.49M 13.25M 10.16M 4.64M 3.77M 4.39M 3.28M 2.11M 0.10M 0.67M 0.17M 0.16M
Cash & Short-Term Investments 474.68M 631.14M 592.29M 579.24M 570.69M 600.54M 460.70M 422.73M 405.29M 383.54M 386.70M 294.36M 294.64M 269.56M 226.29M 226.08M 176.33M 112.24M 113.01M 90.49M 79.38M 52.00M 42.60M 40.94M 26.02M 25.58M 18.63M 14.68M 14.69M 13.69M 11.02M
Net Receivables 522.45M 504.04M 473.58M 498.67M 422.03M 382.92M 354.30M 368.39M 362.17M 327.27M 307.80M 290.63M 278.88M 254.64M 227.47M 180.48M 167.96M 169.68M 143.29M 133.05M 99.69M 56.57M 37.97M 30.20M 27.16M 24.90M 20.64M 26.43M 29.38M 32.47M 20.25M
Inventory 776.35M 824.22M 790.01M 815.82M 630.17M 531.86M 507.01M 460.31M 461.90M 442.18M 381.75M 361.73M 340.11M 316.27M 293.97M 225.93M 199.16M 202.19M 179.77M 146.46M 124.03M 87.65M 76.85M 69.01M 64.69M 67.46M 61.35M 70.45M 65.64M 75.64M 56.95M
Other Current Assets 118.67M 91.07M 91.98M 125.22M 114.23M 101.93M 114.30M 125.19M 98.92M 115.28M 123.99M 99.31M 92.39M 77.72M 56.50M 61.55M 55.49M 54.62M 43.54M 37.70M 23.19M 17.92M 18.16M 19.50M 10.91M 14.22M 13.28M 13.82M 10.69M 15.51M 10.64M
Total Current Assets 1,892.16M 2,050.48M 1,947.86M 2,018.95M 1,737.12M 1,617.24M 1,436.32M 1,376.61M 1,328.28M 1,268.27M 1,200.26M 1,046.03M 1,006.02M 918.19M 804.23M 694.04M 598.93M 538.73M 479.61M 407.70M 326.29M 214.15M 175.58M 159.65M 128.77M 132.17M 113.91M 125.39M 120.40M 137.32M 98.86M
Property, Plant & Equipment 1,634.70M 1,756.00M 1,691.18M 1,526.71M 1,388.75M 1,341.40M 1,307.63M 1,167.42M 1,097.02M 1,039.08M 973.56M 851.40M 739.91M 691.51M 640.83M 587.14M 501.68M 442.60M 430.19M 363.61M 311.91M 231.80M 179.70M 176.06M 141.91M 140.76M 131.86M 153.91M 151.99M 145.65M 132.85M
Goodwill 479.64M 587.19M 575.03M 573.97M 473.46M 539.82M 502.59M 503.35M 452.16M 425.61M 365.06M 302.29M 267.76M 157.90M 139.86M 67.75M 63.21M 51.06M 53.77M 52.57M 14.96M 1.46M 0.06M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Intangible Assets 578.99M 384.31M 518.52M 580.68M 437.40M 426.80M 399.15M 361.03M 298.12M 273.81M 237.63M 184.77M 165.25M 160.62M 153.40M 149.72M 109.59M 99.56M 60.75M 48.98M 53.87M 23.36M 21.25M 10.55M 3.97M 4.32M 4.60M 9.51M 6.41M 7.02M 1.27M
Long-Term Investments 129.73M 109.25M 158.30M 112.52M 140.09M 117.04M 118.80M 119.98M 109.44M 85.47M 87.62M 80.27M 57.75M 34.48M 30.13M 27.78M 25.83M 25.48M 25.04M 14.81M 8.43M 1.82M 0.35M 0.13M 0.09M 0.05M 0.09M 0.00M 0.00M 0.00M 0.00M
Tax Assets 16.06M 37.82M 30.50M 37.55M 32.84M 32.69M 31.26M 25.55M 23.51M 21.31M 16.45M 18.73M 17.70M 18.17M 19.21M 17.01M 14.79M 10.27M 6.39M 4.46M 4.91M 1.92M 0.76M 1.35M 0.70M 0.48M 0.37M 0.34M 0.16M 0.37M 0.15M
Other Non-Current Assets 156.67M 234.60M 132.52M 169.04M 149.49M 123.74M 134.46M 123.39M 99.64M 96.04M 80.94M 73.08M 63.95M 67.40M 84.62M 74.39M 64.20M 58.90M 57.91M 38.13M 31.84M 26.59M 23.46M 15.58M 11.51M 11.97M 10.72M 7.75M 7.20M 5.84M 5.74M
Other Assets 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Total Non-Current Assets 2,995.79M 3,109.17M 3,106.06M 3,000.46M 2,622.03M 2,581.50M 2,493.90M 2,300.72M 2,079.89M 1,941.32M 1,761.26M 1,510.53M 1,312.32M 1,130.08M 1,068.06M 923.79M 779.30M 687.87M 634.06M 522.56M 425.93M 286.94M 225.57M 203.67M 158.18M 157.58M 147.65M 171.51M 165.76M 158.89M 140.01M
Total Assets 4,887.95M 5,159.64M 5,053.92M 5,019.40M 4,359.15M 4,198.75M 3,930.22M 3,677.32M 3,408.17M 3,209.59M 2,961.52M 2,556.56M 2,318.34M 2,048.26M 1,872.29M 1,617.83M 1,378.23M 1,226.60M 1,113.67M 930.26M 752.22M 501.09M 401.14M 363.32M 286.96M 289.75M 261.56M 296.90M 286.17M 296.21M 238.86M
Accounts Payable 511.42M 639.80M 610.71M 583.07M 487.87M 419.88M 395.67M 360.26M 363.40M 334.37M 279.59M 256.87M 242.83M 229.29M 241.05M 202.46M 183.99M 180.20M 122.25M 102.60M 84.70M 62.19M 46.64M 39.89M 32.82M 29.07M 19.86M 30.06M 29.43M 37.93M 40.04M
Short-Term Debt 426.80M 411.12M 359.71M 347.78M 309.34M 308.58M 275.27M 265.09M 282.97M 246.91M 231.61M 194.18M 193.99M 161.73M 147.00M 124.26M 112.01M 130.55M 85.92M 71.18M 50.51M 37.30M 28.14M 26.78M 23.79M 18.95M 17.56M 9.12M 13.18M 15.99M 19.55M
Tax Payables 7.11M 46.98M 37.57M 42.28M 40.00M 39.12M 31.54M 31.24M 31.25M 28.06M 21.35M 20.76M 18.32M 14.21M 12.30M 12.77M 9.25M 4.59M 5.26M 4.09M 3.37M 1.32M 0.76M 0.38M 0.57M 0.45M 0.47M 0.36M 0.47M 0.27M 0.79M
Deferred Revenue 11.74M 0.00M 4.17M 12.23M 89.39M 69.10M 56.70M 25.90M 57.62M 58.39M 49.07M 46.90M 45.48M 34.19M 15.81M 14.62M 14.65M 5.73M 16.03M 14.51M 6.27M 3.31M 2.92M 2.37M 1.47M 0.64M 0.88M 0.63M 0.98M 0.33M 1.06M
Other Current Liabilities 275.17M 298.53M 290.99M 313.06M 196.45M 176.13M 214.52M 237.54M 181.80M 189.92M 159.76M 143.56M 143.36M 136.46M 129.48M 73.90M 66.11M 75.59M 67.41M 59.90M 55.24M 31.07M 25.21M 14.21M 8.08M 13.57M 15.23M 16.40M 18.34M 17.85M 14.46M
Total Current Liabilities 1,232.23M 1,396.43M 1,303.15M 1,298.41M 1,123.05M 1,012.82M 973.70M 920.03M 917.04M 857.65M 741.39M 662.26M 643.97M 575.88M 545.65M 428.02M 386.02M 396.66M 296.87M 252.27M 200.10M 135.19M 103.67M 83.64M 66.73M 62.68M 54.00M 56.57M 62.41M 72.38M 75.91M
Long-Term Debt 1,237.26M 1,241.36M 1,256.45M 1,215.39M 1,162.42M 1,003.89M 930.51M 914.37M 855.87M 727.90M 685.59M 545.62M 473.06M 396.80M 348.41M 342.70M 252.50M 225.09M 188.44M 155.32M 120.63M 80.28M 70.44M 62.14M 61.61M 58.39M 62.48M 64.58M 62.55M 60.76M 65.64M
Capital Lease Obligations 45.95M 117.81M 107.56M 107.26M 96.74M 97.46M 49.35M 5.97M 2.91M 2.27M 1.72M 0.57M 0.54M 0.31M 0.16M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Deferred Tax Liabilities 88.57M 137.42M 158.16M 146.11M 108.71M 108.20M 100.01M 95.09M 92.47M 87.88M 64.12M 58.59M 57.77M 53.95M 58.89M 51.87M 39.28M 25.32M 25.93M 22.01M 14.48M 9.75M 5.30M 4.74M 3.61M 2.58M 2.43M 2.41M 1.27M 2.17M 2.79M
Other Non-Current Liabilities 139.59M 129.83M 134.25M 132.73M 107.96M 166.96M 141.47M 155.04M 153.06M 139.48M 106.65M 83.24M 76.51M 51.74M 57.60M 49.11M 72.00M 46.84M 36.33M 27.99M 23.02M 16.47M 15.29M 14.83M 6.50M 10.14M 11.34M 8.84M 9.46M 10.39M 12.28M
Total Non-Current Liabilities 1,511.37M 1,626.41M 1,656.41M 1,601.50M 1,475.83M 1,376.50M 1,221.34M 1,170.47M 1,104.31M 957.53M 858.08M 688.02M 607.88M 502.80M 465.07M 443.68M 363.78M 297.25M 250.70M 205.32M 158.12M 106.50M 91.04M 81.71M 71.71M 71.10M 76.25M 75.83M 73.27M 73.32M 80.70M
Total Liabilities 2,743.60M 3,022.85M 2,959.56M 2,899.91M 2,598.88M 2,389.32M 2,195.04M 2,090.49M 2,021.35M 1,815.18M 1,599.47M 1,350.28M 1,251.86M 1,078.67M 1,010.72M 871.70M 749.80M 693.91M 547.58M 457.59M 358.22M 241.68M 194.71M 165.35M 138.44M 133.78M 130.25M 132.40M 135.69M 145.69M 156.61M
Preferred Stock 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Common Stock 79.50M 110.05M 116.74M 134.55M 110.33M 110.63M 96.20M 93.74M 105.26M 104.86M 93.03M 85.84M 74.99M 75.35M 69.13M 63.24M 58.18M 57.76M 57.30M 46.92M 40.94M 32.64M 26.71M 24.74M 21.89M 21.97M 21.32M 13.69M 9.46M 9.28M 10.54M
Retained Earnings 1,475.63M 1,754.32M 1,503.12M 1,447.06M 1,340.70M 1,251.73M 1,015.59M 965.85M 841.71M 788.83M 685.08M 627.08M 581.63M 536.68M 381.42M 365.35M 267.18M 215.18M 257.76M 224.89M 194.22M 97.26M 81.60M 76.75M 57.71M 71.78M 60.59M 77.66M 73.85M 106.45M 95.85M
Accumulated OCI 139.95M 56.02M 38.06M 70.07M 43.35M -2.36M 18.46M -4.19M -30.47M -26.39M -11.68M -44.50M -38.69M -29.32M -19.31M -8.40M -15.64M -6.70M -0.43M -0.41M -0.50M -0.53M -0.36M -0.42M -0.42M -2.49M -2.12M -1.71M -3.66M -3.08M -2.51M
Minority Interest 80.32M 106.17M 98.19M 101.58M 87.19M 80.55M 70.04M 78.48M 60.84M 54.87M 41.69M 40.00M 35.39M 31.34M 25.14M 21.83M 20.90M 19.94M 16.23M 12.57M 11.80M 8.34M 6.77M 6.63M 3.05M 1.20M 0.83M 0.97M 0.29M 1.03M 0.72M
Total Shareholders’ Equity 1,695.07M 1,920.39M 1,657.92M 1,651.68M 1,494.38M 1,360.00M 1,130.25M 1,055.40M 916.50M 867.30M 766.42M 668.42M 617.92M 582.71M 431.25M 420.20M 309.72M 266.24M 314.62M 271.39M 234.65M 129.36M 107.94M 101.07M 79.19M 91.25M 79.79M 89.64M 79.64M 112.64M 103.87M
Total Equity 1,775.39M 2,026.56M 1,756.11M 1,753.26M 1,581.57M 1,440.55M 1,200.29M 1,133.88M 977.35M 922.17M 808.11M 708.42M 653.32M 614.05M 456.39M 442.03M 330.62M 286.18M 330.85M 283.96M 246.45M 137.71M 114.72M 107.70M 82.23M 92.45M 80.63M 90.60M 79.94M 113.67M 104.59M
Total Liabilities & Equity 4,518.99M 5,049.41M 4,715.67M 4,653.18M 4,180.45M 3,829.87M 3,395.33M 3,224.37M 2,998.69M 2,737.35M 2,407.58M 2,058.70M 1,905.17M 1,692.72M 1,467.11M 1,313.73M 1,080.42M 980.09M 878.43M 741.56M 604.67M 379.39M 309.42M 273.05M 220.67M 226.23M 210.88M 223.01M 215.62M 259.36M 261.20M
Tangible Assets 3,829.32M 4,188.15M 3,960.37M 3,864.75M 3,448.30M 3,232.12M 3,028.47M 2,812.95M 2,657.90M 2,510.17M 2,358.83M 2,069.50M 1,885.32M 1,729.74M 1,579.02M 1,400.36M 1,205.43M 1,075.98M 999.14M 828.71M 683.38M 476.27M 379.84M 352.77M 282.99M 285.43M 256.96M 287.39M 279.76M 289.18M 237.59M
Tangible Equity 716.76M 1,055.06M 662.55M 598.62M 670.72M 473.92M 298.54M 269.50M 227.07M 222.75M 205.42M 221.36M 220.30M 295.53M 163.13M 224.55M 157.82M 135.56M 216.32M 182.41M 177.61M 112.89M 93.41M 97.15M 78.26M 88.13M 76.03M 81.09M 73.53M 106.64M 103.32M
Tangible Book Value 716,759,817.76 1,055,064,649.42 662,553,991.45 598,616,115.48 670,715,288.37 473,920,392.51 298,543,664.37 269,502,185.35 227,072,587.80 222,746,627.42 205,423,691.20 221,362,976.17 220,298,969.50 295,530,613.00 163,125,460.02 224,552,338.10 157,817,411.09 135,559,342.72 216,322,840.26 182,413,020.02 177,613,432.65 112,891,980.26 93,409,267.10 97,147,985.71 78,263,674.88 88,130,339.03 76,028,002.35 81,089,142.61 73,526,649.73 106,644,612.24 103,320,560.46
Total Investments 329.87M 224.79M 292.65M 233.91M 228.99M 202.67M 177.79M 165.20M 146.86M 137.66M 130.87M 109.91M 93.26M 62.21M 56.41M 64.84M 45.04M 50.03M 39.90M 38.39M 28.51M 18.03M 9.12M 9.54M 7.12M 5.11M 5.52M 2.48M 0.30M 0.82M 1.00M
Net Debt 1,262.99M 1,153.01M 1,135.88M 1,076.87M 1,000.07M 839.75M 840.66M 858.19M 805.68M 642.80M 586.79M 489.14M 422.81M 330.82M 321.86M 286.33M 206.85M 260.74M 174.00M 148.49M 105.01M 75.75M 60.62M 51.75M 63.77M 55.04M 63.52M 59.12M 61.72M 63.22M 74.33M

Industry Capital Metrics

Metric MRQ 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995
Working Capital 618.94M 656.01M 573.49M 522.44M 499.03M 508.14M 451.51M 354.37M 407.61M 342.32M 337.32M 379.16M 362.66M 293.61M 275.54M 275.62M 163.39M 132.86M 98.10M 115.97M 110.09M 63.22M 81.19M 61.99M 38.69M 37.81M 48.22M 57.46M 66.88M 57.13M 50.73M
Total Capital 4,575.16M 4,443.16M 4,297.56M 4,116.54M 3,739.75M 3,453.05M 3,180.08M 2,912.56M 2,736.11M 2,519.96M 2,337.40M 1,994.59M 1,831.94M 1,576.98M 1,454.74M 1,348.90M 1,073.92M 917.40M 847.82M 710.30M 583.37M 402.62M 350.26M 322.90M 273.39M 251.67M 265.03M 282.16M 228.22M 236.45M 238.73M
Capital Employed 4,868.22M 4,730.65M 4,445.52M 4,295.62M 3,972.47M 3,762.79M 3,413.12M 3,195.52M 3,044.39M 2,860.11M 2,511.66M 2,118.79M 1,938.10M 1,682.40M 1,566.14M 1,486.65M 1,193.76M 1,080.99M 884.45M 764.49M 640.97M 483.16M 385.88M 321.48M 275.38M 308.06M 317.22M 381.56M 286.47M 225.05M 287.41M
Invested Capital 4,174.09M 3,943.70M 3,817.29M 3,630.25M 3,268.07M 2,980.33M 2,814.96M 2,591.29M 2,402.94M 2,187.94M 2,006.99M 1,743.94M 1,587.70M 1,349.28M 1,281.18M 1,168.27M 916.25M 822.50M 747.45M 632.29M 517.24M 360.79M 312.30M 285.73M 251.76M 229.37M 248.51M 267.58M 214.21M 222.92M 227.87M

Industry Cash Flow

Metric TTM 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995
Depreciation & Amortization 173.56M 220.85M 217.02M 204.65M 179.54M 169.77M 162.97M 140.32M 134.83M 127.72M 109.73M 88.00M 79.11M 72.69M 67.61M 62.45M 59.95M 52.14M 41.28M 39.89M 31.07M 23.00M 21.89M 20.30M 17.20M 13.09M 13.17M 19.44M 24.34M 22.49M 22.16M
Deferred Income Tax 0.70M 0.00M -1.48M 0.16M -0.91M -0.35M -2.09M -3.12M -0.50M -1.17M -0.83M 0.00M 0.00M 0.27M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.04M 0.00M 0.00M 0.00M 0.00M 0.00M 0.13M -0.03M -0.05M 0.26M
Stock-Based Compensation 4.38M 5.77M 6.66M 5.92M 5.65M 3.37M 4.37M 4.16M 4.32M 2.76M 2.80M 3.00M 2.58M 1.89M 0.79M 0.41M 0.34M 0.01M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Change in Working Capital -54.40M -14.98M -12.36M -128.66M -61.00M 3.23M -12.56M -17.81M -17.08M 0.38M 4.55M -17.52M -13.25M -12.70M -31.08M -9.51M 12.46M -24.12M -12.86M -10.39M -8.97M -5.66M -2.92M 0.92M -1.71M -2.07M -0.99M -0.97M -1.74M -5.73M -0.90M
Accounts Receivable -0.39M -7.94M -4.60M -33.50M -26.50M -3.25M -5.02M -8.76M -10.74M -9.59M 2.04M -3.33M -8.63M -2.83M 0.00M 0.00M 0.00M 0.00M -0.11M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Inventory -30.83M 1.16M 6.31M -109.70M -66.37M -11.06M -27.75M -22.90M -13.00M -15.60M -2.53M -11.92M -10.27M -17.20M -27.15M -13.59M 7.46M -18.26M -14.99M -7.57M -4.72M -4.42M -4.15M -1.89M -0.96M -2.53M -1.16M -1.53M 0.51M -7.34M -2.26M
Accounts Payable 0.94M 6.66M -1.48M 30.35M 35.73M 4.71M 18.74M 14.99M 4.09M 15.56M 4.47M 0.00M 0.58M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Working Capital -5.91M -16.65M -8.67M -5.01M -3.18M 10.17M -1.25M -4.93M -0.43M 0.65M 0.36M -7.61M -0.12M 2.64M -1.87M 3.47M -2.88M 0.11M 4.57M 0.79M -0.16M -1.82M -0.13M 0.16M -0.84M 0.64M 0.57M 0.10M -1.92M 3.02M 2.15M
Other Non-Cash Items 152.37M 45.56M 43.61M 7.46M 31.02M 42.85M 36.85M 17.07M 3.95M 14.46M 4.49M -0.82M -0.95M -0.18M -4.38M -2.61M 2.96M -4.87M -7.57M -7.57M 1.04M -0.46M 1.15M 3.57M 3.57M 1.31M 0.52M 0.28M -0.20M -7.19M -1.10M
Net Cash from Operating Activities 595.42M 623.85M 553.36M 412.00M 439.46M 481.14M 400.01M 352.29M 347.44M 323.44M 304.75M 251.12M 237.64M 207.35M 155.57M 179.74M 162.89M 76.55M 102.21M 86.55M 78.00M 57.18M 55.74M 41.62M 39.93M 32.49M 35.11M 42.89M 65.16M 57.14M 40.91M
Capital Expenditures (PPE) -230.86M -240.32M -242.07M -216.23M -198.00M -184.63M -197.13M -178.79M -154.04M -146.58M -140.73M -134.26M -110.74M -107.24M -93.99M -79.64M -62.75M -69.75M -65.40M -52.41M -37.37M -29.78M -26.48M -23.72M -21.75M -15.76M -18.40M -28.83M -28.96M -30.63M -37.52M
Acquisitions (Net) 0.44M -4.20M -0.56M -3.74M -23.04M -10.67M -5.13M -24.97M -9.34M -35.79M -31.08M -5.70M -14.16M -6.55M -5.45M -9.05M -3.51M -5.38M -12.81M -11.51M -4.31M -2.24M -1.04M -0.33M -1.40M -1.13M 0.00M 0.00M 0.00M -0.19M -2.62M
Purchases of Investments -46.98M -91.64M -71.64M -82.57M -75.19M -28.38M -39.42M -58.52M -29.06M -26.34M -20.00M -25.07M -25.14M -7.16M -17.44M -16.60M -10.13M -14.54M -12.56M -7.63M -5.13M -1.50M -1.27M -1.70M -1.22M -1.63M -1.23M -0.43M -0.02M -0.99M -0.05M
Sales / Maturities of Investments 30.22M 50.22M 33.60M 40.12M 68.79M 34.52M 44.10M 43.27M 42.29M 55.82M 31.52M 16.09M 22.24M 8.81M 15.15M 9.43M 8.36M 6.63M 11.91M 4.97M 4.90M 0.93M 0.52M 1.40M 0.79M 1.02M 0.10M 0.14M 0.00M 0.08M 0.07M
Other Investing Activities -2.33M 10.44M 18.19M 17.18M 14.35M 9.73M 12.22M 6.05M 6.80M 4.90M 3.41M 2.24M 3.53M 1.98M 1.67M 2.67M 2.24M 3.37M 2.34M 1.24M 2.16M 0.48M 0.21M 1.24M 0.02M -0.48M 0.08M -0.19M -1.72M -3.17M -1.39M
Net Cash from Investing Activities -291.60M -313.25M -251.51M -262.36M -278.66M -224.83M -196.91M -248.94M -196.01M -203.87M -202.40M -169.24M -171.55M -137.65M -113.23M -105.81M -77.59M -89.22M -97.78M -73.01M -49.77M -33.61M -28.58M -24.34M -25.34M -20.43M -22.84M -28.33M -44.90M -39.44M -41.88M
Net Debt Issuance -4.61M -25.01M -14.60M 39.03M 35.00M -7.58M 14.40M 23.99M 29.91M 15.27M 8.12M 15.95M 22.10M -0.91M 14.02M -21.10M -15.38M 54.66M 21.83M 14.57M -4.47M 2.60M -1.01M -0.53M 1.39M -1.42M -0.01M 2.14M 0.52M 1.00M 10.10M
Long-Term Debt Issuance -0.28M -13.94M 37.64M 41.26M 32.07M 3.51M 6.77M 35.63M 41.27M 42.55M 8.08M 17.77M 22.72M 9.67M 1.18M 0.13M 5.53M 50.77M 18.54M 13.42M -1.07M 2.34M -0.80M -0.83M 0.91M 0.77M 1.10M 1.97M 0.08M 1.55M 2.05M
Short-Term Debt Issuance -22.58M 0.09M -9.41M 6.09M -6.15M -4.63M -4.51M -1.04M -1.38M -4.44M 0.61M 1.98M -0.39M 0.40M 5.48M -6.44M -6.26M 1.12M -0.52M -0.69M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Net Stock Issuance -27.51M -21.25M -14.25M -27.53M -13.37M -4.51M -1.28M -1.76M -3.54M -3.52M -4.76M -0.96M -1.65M -1.71M -2.68M 3.52M 0.24M -1.25M -0.65M 0.16M 0.04M -0.32M 0.14M 0.01M 0.07M -0.57M -1.46M -0.90M 0.06M 0.17M 0.63M
Common Stock Issuance 0.00M 0.00M 0.00M 0.00M 0.01M 0.08M 0.65M 0.31M 1.10M 0.28M 0.39M 0.73M 0.35M 1.12M 1.27M 12.99M 2.37M 1.53M 5.44M 1.08M 1.10M 1.90M 0.67M 0.51M 0.25M 0.33M 0.38M 1.29M 1.82M 1.84M 1.25M
Common Stock Repurchased -27.71M -30.27M -16.51M -33.34M -13.16M -4.69M -2.11M -4.71M -4.34M -4.21M -5.98M -4.05M -2.43M -2.42M -3.43M -1.47M -0.78M -1.90M -2.91M -0.42M -0.32M -0.46M 0.00M -0.06M -0.07M -0.98M -1.53M -0.22M -0.18M -1.04M 0.00M
Preferred Stock Issuance 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Net Dividends Paid -112.65M -157.99M -145.78M -113.84M -83.37M -78.54M -68.89M -64.16M -65.73M -75.13M -65.22M -50.07M -54.22M -33.97M -32.06M -24.52M -18.11M -17.80M -14.67M -17.52M -13.59M -11.90M -7.24M -6.29M -4.08M -4.78M -1.93M -4.12M -5.07M -5.26M -1.64M
Common Dividends Paid -111.81M -157.99M -143.74M -114.19M -86.66M -78.92M -69.75M -66.71M -64.33M -74.54M -64.20M -49.51M -53.98M -33.00M -29.74M -24.62M -18.76M -18.57M -14.70M -17.55M -13.55M -11.60M -7.67M -6.29M -4.07M -5.51M -1.93M -4.12M -5.07M -5.26M -1.64M
Preferred Dividends Paid 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M 0.00M
Other Financing Activities -57.40M -42.07M -51.04M -40.02M -32.21M -23.16M -25.96M -16.93M -10.42M -13.05M -3.41M -8.09M -9.14M -3.97M -1.99M -2.80M -4.35M -2.07M 1.20M 0.04M 0.23M -2.07M -0.18M -0.58M 1.12M 0.00M 0.58M 2.18M 0.08M 0.13M -0.10M
Net Cash from Financing Activities -278.61M -269.43M -229.32M -171.03M -166.37M -127.42M -106.31M -102.71M -76.54M -94.30M -69.54M -71.80M -48.33M -39.05M -16.27M -53.76M -52.45M 18.81M 15.09M -5.64M -17.54M -13.00M -8.86M -7.50M -1.88M -1.37M -6.85M 2.68M -12.19M -5.54M 2.44M
Effect of FX on Cash 2.01M 3.54M 0.60M 1.40M 2.61M -0.99M -0.63M 0.33M -0.58M -1.79M 2.28M 1.19M 0.39M -0.15M 0.63M -0.22M -1.50M -0.25M 0.23M 0.22M 0.14M -0.05M -0.03M 0.00M 0.00M 0.00M -0.02M -0.05M -0.04M 0.30M 0.47M
Net Change in Cash 46.18M 4.33M 63.38M -19.86M -4.77M 103.96M 14.05M -40.65M 23.20M 15.73M 28.54M 13.82M 6.04M 25.03M 12.06M 27.05M 19.19M 2.50M 16.53M 2.13M 4.51M 3.00M 5.74M 3.02M 3.91M 3.14M -0.63M 1.48M -0.62M 2.14M -0.89M
Cash at Beginning of Period 376.06M 448.34M 431.40M 393.20M 452.93M 309.65M 295.04M 350.08M 297.36M 323.69M 243.48M 209.73M 212.01M 185.41M 155.05M 128.91M 96.15M 93.53M 73.23M 70.90M 55.26M 39.92M 32.21M 21.69M 17.88M 15.45M 14.70M 12.94M 14.87M 9.23M 25.67M
Cash at End of Period 415.14M 457.74M 454.33M 427.79M 405.39M 459.18M 319.26M 284.85M 348.06M 303.12M 311.87M 236.84M 231.05M 213.38M 166.84M 153.64M 127.65M 89.29M 92.60M 73.40M 69.53M 42.33M 36.36M 34.95M 21.20M 20.39M 16.28M 18.61M 15.79M 15.11M 12.13M
Operating Cash Flow 593.82M 621.62M 553.36M 413.50M 439.46M 481.14M 400.01M 352.30M 347.44M 323.25M 304.83M 250.83M 237.64M 207.26M 155.57M 179.74M 162.89M 76.55M 102.21M 86.55M 78.00M 57.18M 55.74M 41.62M 39.93M 32.49M 35.11M 42.89M 65.20M 57.09M 40.91M
Capital Expenditure -243.06M -250.25M -244.27M -216.39M -198.21M -185.12M -197.11M -178.78M -154.01M -146.58M -140.77M -135.48M -111.09M -107.24M -93.99M -79.64M -62.75M -67.78M -65.40M -52.34M -37.37M -30.95M -26.48M -23.72M -21.75M -15.76M -18.40M -28.83M -28.96M -30.63M -37.52M
Free Cash Flow 398.18M 350.52M 313.29M 182.84M 237.15M 272.86M 186.40M 145.34M 162.79M 179.90M 155.08M 110.00M 99.84M 90.27M 58.58M 108.31M 90.87M 9.41M 40.01M 29.81M 39.83M 24.91M 20.36M 16.61M 13.12M 9.60M 7.97M 7.97M 24.06M 14.92M 8.17M

Industry Free Cash Flow

Metric TTM 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995
EBITDA 745.21M 764.27M 688.26M 697.68M 651.52M 595.36M 541.49M 477.29M 452.75M 432.55M 391.22M 334.21M 294.07M 284.29M 254.38M 234.37M 200.22M 150.42M 151.51M 113.30M 109.15M 87.13M 71.68M 62.86M 51.51M 61.00M 62.49M 68.21M 53.62M 51.26M 51.11M
(-) Tax Adjustment 168.29M 173.71M 162.61M 156.46M 144.02M 131.30M 130.63M 102.72M 90.27M 118.99M 104.53M 93.13M 76.60M 77.79M 65.00M 59.90M 56.38M 48.85M 44.62M 30.06M 34.38M 21.82M 19.02M 14.01M 16.51M 19.43M 18.60M 16.32M 11.12M 17.07M 15.27M
(-) Change In Working Capital -54.40M -14.98M -12.36M -128.66M -61.00M 3.23M -12.56M -17.81M -17.08M 0.38M 4.55M -17.52M -13.25M -12.70M -31.08M -9.51M 12.46M -24.12M -12.86M -10.39M -8.97M -5.66M -2.92M 0.92M -1.71M -2.07M -0.99M -0.97M -1.74M -5.73M -0.90M
(-) Capital Expenditure 243.06M 250.25M 244.27M 216.39M 198.21M 185.12M 197.11M 178.78M 154.01M 146.58M 140.77M 135.48M 111.09M 107.24M 93.99M 79.64M 62.75M 67.78M 65.40M 52.34M 37.37M 30.95M 26.48M 23.72M 21.75M 15.76M 18.40M 28.83M 28.96M 30.63M 37.52M
Unlevered Free Cash Flow 388.26M 355.29M 293.74M 453.49M 370.29M 275.71M 226.31M 213.60M 225.55M 166.59M 141.37M 123.13M 119.62M 111.96M 126.48M 104.34M 68.64M 57.91M 54.35M 41.29M 46.37M 40.02M 29.11M 24.21M 14.95M 27.88M 26.48M 24.03M 15.28M 9.28M -0.78M
(-) Net Interest Income After Taxes -62.64M -59.65M -53.27M -41.44M -38.12M -34.55M -32.29M -39.89M -32.75M -26.37M -20.47M -19.39M -17.45M -15.73M -13.94M -14.59M -14.74M -15.36M -8.59M -6.36M -4.33M -3.64M -3.49M -2.88M -1.32M -1.23M -0.53M -0.71M -1.44M -1.33M -1.04M
Net Debt Issuance -4.61M -25.01M -14.60M 39.03M 35.00M -7.58M 14.40M 23.99M 29.91M 15.27M 8.12M 15.95M 22.10M -0.91M 14.02M -21.10M -15.38M 54.66M 21.83M 14.57M -4.47M 2.60M -1.01M -0.53M 1.39M -1.42M -0.01M 2.14M 0.52M 1.00M 10.10M
Levered Free Cash Flow 446.29M 389.93M 332.41M 533.95M 443.41M 302.68M 273.00M 277.48M 288.22M 208.23M 169.96M 158.47M 159.17M 126.78M 154.43M 97.82M 68.00M 127.93M 84.76M 62.22M 46.23M 46.26M 31.59M 26.57M 17.66M 27.68M 26.99M 26.87M 17.23M 11.61M 10.35M